Mr. Praveen Arichandran reports

ARGO LAUNCHES SMART ROUTING IN CALEDON, EXPANDING NETWORK TO THIRD MUNICIPALITY

Argo Corp. has launched its proprietary Smart Routing transit infrastructure and service in the town of Caledon, expanding Argo's network to a third municipality.

Caledon mayor, councillors and staff with Argo management

The service operates across Bolton, Caledon East and Mayfield West/Southfields. Riders can request trips through the Argo transit app or by phone, travel point to point within and between the three service areas, and connect with GO Transit, Brampton Transit and York Region Transit. As previously announced, the agreement provides an aggregate fee to Argo of approximately $4.5-million over its initial 15-month term, excluding additional potential fare revenue retained by Argo.

Growing communities globally need more convenient access to transit while governments are allocating significant infrastructure and operating funding to expand it. Argo's patent-pending Smart Routing solution is designed to help municipalities and transit agencies turn that need and funding into operating transit infrastructure faster, while improving access and service efficiency.

• Access: Smart Routing extends the reach of existing transit networks by picking riders up near their door and connecting them into fixed-route transit for longer journeys. In Brampton, the service is Presto integrated and connects riders into Brampton Transit and GO Transit.
• Economics: Smart Routing is designed to deliver broader, more convenient service efficiently as ridership scales. In Bradford West Gwillimbury, average daily ridership more than doubled while cost per ride declined by more than 50 per cent.
• Deployment: Smart Routing lets municipalities deploy a complete transit network quickly through one integrated smart infrastructure platform spanning vehicles, charging, technology and operations. In Caledon, service launched approximately three months after contract signing.

"We built Smart Routing so public transit can meet people where they are, connect riders seamlessly across local and regional networks, and be deployed in weeks and not years," said Praveen Arichandran, co-founder and chief executive officer of Argo. "Caledon went from agreement signing to a fully operating electric Smart Routing transit network across three communities in approximately three months. We believe this is an infrastructure model that can scale to growing communities around the world."

About Argo Corp.

Argo delivers the first ever vertically and publicly integrated city transit system, designed to augment public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility.

We seek Safe Harbor.